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kym holdings berhad (KYM) Details

KYM Holdings Bhd., an investment holding company, designs, manufactures, and markets paper based packaging products in Malaysia, Singapore, Mauritius, Thailand, and Indonesia. Its products include corrugated fibre boards, carton boxes, industrial paper bags, and sewn woven laminated polypropylene and polypropylene laminated paper bags. In addition, it engages in the investment, development, and management of properties; and general construction activities. The company was formerly known as Polypulp Paper Industries Berhad and changed its name to KYM Holdings Bhd. in April 1996. KYM Holdings Bhd. was incorporated in 1982 and is based in Kuala Lumpur, Malaysia.

kym holdings berhad (KYM) Key Developments

KYM Holdings Bhd reported unaudited consolidated earnings results for the third quarter and nine months ended October 31, 2014. For the quarter, the company reported revenue of MYR 24,600,000 against MYR 22,195,000 a year ago. Profit for the period from continuing operations was MYR 124,000 against MYR 961,000 a year ago. Profit after taxation attributable to owners of the company was MYR 124,000 or 3.44 sen basic and diluted earnings per share against loss after taxation attributable to owners of the company of MYR 3,166,000 or 0.86 sen basic and diluted earnings per share a year ago. The group recorded a profit before taxation for the current quarter of MYR 129,001 compared to a profit before taxation of MYR 530,989 in the corresponding quarter from the previous year. This is mainly due to an increase in operating expenses as a result of rising labour costs after the implementation of the minimum wage order.
For the nine months, the company reported revenue of MYR 73,432,000 against MYR 69,865,000 a year ago. Loss before tax was MYR 856,000 against profit before tax of MYR 873,000 a year ago. Loss for the period from continuing operations was MYR 861,000 against profit for the period from continuing operations of MYR 752,000 a year ago. Loss after taxation attributable to owners of the company was MYR 861,000 or 23.81 sen basic and diluted earnings per share against MYR 3,080,000 or 0.95 sen basic and diluted earnings per share a year ago. Net cash used in operating activities was MYR 5,671,000. Purchase of property, plant and equipment were MYR 1,089,000.

KYM Holdings Bhd announced the appointment of Lee Ji Jin Darren as Non Independent & Non Executive, Member of Audit Committee, effective from September 25, 2014. Mr. Darren Lee started his career in early 2003 as an Audit associate with Ernst & Young Malaysia and subsequently extended his international experience with Ernst & Young in the United Kingdom. End of 2005, he joined the Deloitte office in Bermuda as Manager whereby he managed the entire audit process and advisory services for a portfolio of clients within the financial services industry specializing in investment management and reinsurance companies. He was also actively involved with Deloitte’s internal and external valuation teams in the valuation of investment derivatives. In 2009, he joined TSM Global Berhad (TSM) as Senior Manager in the Corporate Affairs Division and subsequently promoted to Head of Investment which duties include the assessment and valuation of potential investment, acquisition of companies, M&A synergization studies, relationship maintenance, new business initiatives, investor relations, due diligence, fund raising, capital assessment and strategy initiatives of the TSM Group.

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